Salary Exchange schemes explained with benefits to employee and employers | Randall & Payne
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Salary Exchange schemes explained with benefits to employee and employers | Randall & Payne
Salary exchange, also known as salary sacrifice, is an arrangement where employees agree to reduce their gross salary in exchange for a non-cash benefit, typically a pension contribution. The employer will also contribute along with the sacrificed salary into the pension scheme, effectively reducing the employee’s National Insurance contributions (NICs) and potentially increasing their take-home pay. But is a salary exchange scheme a good idea f…
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